"In retrospect, I bet they wish they had been imprudent, spent a lot of money, and actually solved the problem .Textbook economics dictates that when conventional monetary policy is impotent, only fiscal policy can pull the economy out of a slump.
(That objectifying yourself for money might still be an imprudent way to spend your youth, perhaps because it leaves you vulnerable when you're older, is another question worth pursuing, but one for the colleges more than for the tabloids).
Natalie Ravitz, a spokeswoman for the Education Department, said that it would be "fiscally imprudent to adjust projected spending on mandated services" like special education, given that the city could run out of money to cover those costs by midyear.
Over the past two decades, it has averaged ten times that.From time to time, the Fed will tempt people to do imprudent things, such as spending too much or saving too little, for the good of the economy as a whole.
Even on the public services, which might be a strong card, the party veers erratically between matching the opposition on cuts and promising unbelievable (and imprudent) new schemes and spending increases.
Beijing's attack on the greenback, therefore, makes the Obama administration's spending plans seem imprudent if not reckless.
And a recent review commissioned by the new provincial government found there's "no choice but to move forward" on Keeyask and the new transmission line, Bipole III, despite concerns over serious delays and "mounting and unprecedented levels of debt" due to a "imprudent, some would say, reckless, capital spending program".
From the start, the teachers' union hoped the money would be used for raises, and from the start the Bloomberg administration expressed reservations, explaining that the sum was a reimbursement for money the city had already spent, and that it would be imprudent to use a one-time revenue source to pay for a recurring cost like salaries.
A law enacted last year by New York state, which oversees nonprofits, characterizes endowment spending that breaks the 7 percent threshold as possibly imprudent, but the Met said that only a portion of its endowment was covered by the law, and that the draw from that portion was considerably less than 7 percent.
